457 S 500 E - Apartments FOR SALE


Provo, UT 84606- Maeser
$900,000 USD
801-879-4642
457 S 500 E, Provo, UT for Sale
$900,000 USD
Apartments - FOR SALE
1/21
null | 7.08% Cap Rate

457 S 500 E
Provo, UT 84606
Maeser


OVERVIEW

SIGNIFICANT VALUE-ADD, CASH COW 6-PLEX OPPORTUNITY in Provo, BYU market, with a solid 7%-cap potential (if self managed), simply by increasing rents (which are BELOW MARKET)! Recent rate increase validates the pro forma rent assumptions! UPDATED: roof (approximately 6 years ago), kitchens, bathrooms, flooring, fixtures, etc! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Even if professionally managed with some vacancy, the pro forma solidly justifies a 6%+ cap! Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$275 USD /SF

# OF UNITS

6

PRICE/UNIT

$150,000

CAP RATE

7.08%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

-

APN/PARCEL ID

05-048-0010

ASK ABOUT THIS PROPERTY

Ashley CurtisPrime Real Estate ExpertsMore Info
801-879-4642

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Ashley CurtisPrime Real Estate ExpertsMore Info
801-879-4642

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.